The first trade in Nasdaq custom basket futures has been made by University of Cambridge Investment Management (UCIM) with a notional value of €80 million.
Julian Butterworth
Nasdaq custom basket futures allow investors to create a custom-made equity basket, specified by return type, currency, and chosen from a pool of equities.
Julian Butterworth, head of sales, European market services, Nasdaq, said: “This offering is a strong example of how we are delivering innovative tools that empower investors to tailor their exposures while benefiting from the transparency and security of regulated markets.”
The offering was first launched with custom basket forwards before being expanded to include futures in March 2025.
Notably, it enables clients to use standardised contracts traded on a regulated market with central counterparty clearing, as opposed to relying on over-the-counter equity swaps.
In the case of UCIM, Nasdaq custom basket futures were used to exclude conventional energy as the fund sought to uphold its sustainable investment strategy.
“Nasdaq Custom Basket Futures enhance UCIM’s ability to further reduce exposure to conventional energy within the passive component of the endowment’s public equity portfolio, supporting progress towards our ambition to achieve net zero greenhouse gas emissions by 2038,” said Sarah Wood, associate director, marketable assets, UCIM.